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==History== [[File:Opel Nähmaschinen 1901.jpg|thumb|Advertisement for the Opel Perfecta sewing machines (1901)]] [[File:Opel bicycle5.JPG|thumb|Opel [[safety bicycle]]]] ===1862–1898=== The company was founded in [[Rüsselsheim]], [[Hesse]], Germany, on 21 January 1862, by German-French<ref>{{Cite web |title=Hessian Biography : Extended Search : LAGIS Hessen |url=https://www.lagis-hessen.de/pnd/11931049X |access-date=2023-03-22 |website=www.lagis-hessen.de}}</ref> entrepreneur [[Adam Opel]]. In the beginning, Opel produced [[sewing machine]]s. Opel<ref>{{cite web |url=http://www.auto-power-girl.com/cars-2012/opel-specifications/opel_adam_in_paris-5893 |title=Opel Adam |website=Auto-power-girl.com |access-date=19 November 2014 |archive-date=1 July 2017 |archive-url=https://web.archive.org/web/20170701131756/http://www.auto-power-girl.com/cars-2012/opel-specifications/opel_adam_in_paris-5893 |url-status=dead }}</ref> launched a new product in 1886: he began to sell high-wheel [[bicycles]], also known as [[penny-farthing]]s. Opel's two sons participated in high-wheel bicycle races, thus promoting this means of transportation. In 1888, production was relocated from a cowshed to a more spacious building in Rüsselsheim. The production of high-wheel bicycles soon exceeded the production of sewing machines.<ref>{{cite web|url= http://www.autoscout24.de/modelle/opel/|title=Informationen zu Opel|publisher=Autoscout24.de| access-date=1 October 2010}}</ref> At the time of Opel's death in 1895, he was the leader in both markets. ===1898–1920=== The first cars were designed in 1898 after Opel's widow [[Sophie Opel|Sophie]] and their two eldest sons entered into a partnership with Friedrich Lutzmann, a locksmith at the court in [[Dessau]] in [[Saxony-Anhalt]], who had been working on automobile designs for some time.<ref>{{cite web |url=http://www.cartype.com/pages/1444/lutzmann |title=Lutzmann |publisher=Cartype |access-date=13 June 2009 |archive-date=6 July 2017 |archive-url= https://web.archive.org/web/20170706062758/http://cartype.com/pages/1444/lutzmann |url-status=dead }}</ref><ref>{{cite web|url= http://www.gm.com/company/historyAndHeritage/creation.html|title=History & Heritage – Our Company |website=gm.com|access-date=19 March 2017|archive-date=9 December 2015|archive-url= https://web.archive.org/web/20151209194417/http://www.gm.com/company/historyAndHeritage/creation.html|url-status=dead}}</ref> The first Opel production Patent Motor Car was built in Rüsselsheim early 1899, although these cars were not very successful (A total of 65 motor cars were delivered: eleven in 1899, twenty-four in 1900 and thirty in 1901) and the partnership was dissolved after two years, following which Opel signed a licensing agreement in 1901 with the French [[Automobiles Darracq France]] to manufacture vehicles under the brand name Opel Darracq. These cars consisted of Opel bodies mounted on Darracq chassis, powered by two-cylinder engines. The company first showed cars of its design at the 1902 [[Hamburg]] [[Auto show|Motor Show]]. Production began in 1906, with the licensed [[Automobiles Darracq France#Opel Darracq|Opel Darracq]] version discontinued in 1907.<ref name="Academic OneFile">{{cite news| first=Wim Oude |last=Weernink |work=Automotive News Europe |title=Opel: German Roots, Global Reach |url= http://link.galegroup.com/apps/doc/A54998270/AONE?sid=AONE&xid=0bd17c06 |page=24B| date=21 June 1999}}</ref><ref>{{cite web|url= http://www.companieshistory.com/opel/ |title=Opel |date=6 December 2013 |website=companieshistory.com |access-date=1 October 2016}}</ref> In 1909, the [[Opel 4/8 PS|Opel 4/8 PS]] model, known as the ''Doktorwagen'' ({{lit|Doctor's Car}}) was produced. Its reliability and robustness were appreciated by physicians, who drove long distances to see their patients back when hard-surfaced roads were still rare. The ''Doktorwagen'' sold for only 3,950 marks, about half as much as the luxury models of its day. The company's factory was destroyed by fire in 1911, and a new facility was built with more up-to-date machinery. Opel's cars were initially tested on public roads, leading to complaints about noise and road damage. Under public pressure, Opel began construction of a test oval in 1917. The track was completed in 1919, but not open to the public until 24 October 1920 under the official name of [[Opel-Rennbahn]] (Opel Race Track).<ref name = "faz">{{cite web|url= https://www.circuitsofthepast.com/opel-rennbahn |title=Opel-Rennbahn – The old Opel Test Track |date=28 November 2018 |work=Circuits of the Past |access-date=3 April 2021}}</ref> ===1920–1939=== [[File:Opel RAK1 2.jpg|thumb|Opel RAK.1 – world's first public flight of a manned rocket-powered plane on 30 September 1929]] [[File:Opel Admiral Cabriolet, Bauzeit 1937-1939 (08.07.2007).jpg|thumb|[[Opel Admiral]] convertible (1937–1939)]] [[File:1939 Opel Kapitän, Owner Arild Nilssen who, as his lady companion wear matching attire cropped to highlight the car.jpg|thumb|[[Opel Kapitän]] (1938–1940)]] In the early 1920s, Opel became the first German car manufacturer to build automobiles with a mass-production assembly line. In 1924, they used their assembly line to produce a new open two-seater called the [[Opel Laubfrosch|''Laubfrosch'' (Tree frog)]]. The Laubfrosch was finished exclusively in green lacquer. The car sold for an expensive 3,900 marks (expensive considering the less expensive manufacturing process), but by the 1930s, this type of vehicle would cost a mere 1,930 marks – due in part to the assembly line, but also due to the skyrocketing demand for cars. Adam Opel led the way for motorised transportation to become not just a means for the rich, but also a reliable way for people of all classes to travel. Opel had a 37.5% market share in Germany and was the country's largest automobile exporter in 1928. The "Regent" – Opel's first eight-cylinder car – was offered. The RAK 1 and RAK 2 rocket-propelled cars made sensational record-breaking runs. Opel as a company and its co-owner [[Fritz von Opel]], grandson of Adam Opel, were instrumental in popularizing rocket propulsion for vehicles and have an important place in the history of spaceflight and rocket technology. In the 1920s, Fritz von Opel initiated together with [[Max Valier]], co-founder of the "Verein für Raumschiffahrt", the world's first rocket program, [[Opel-RAK]], leading to speed records for automobiles, rail vehicles and the first manned rocket-powered flight in September 1929.<ref>{{cite web |url=https://www.airforcemag.com/article/0904rocket/ |first=Walter J. |last=Boyne |title=The Rocket Men |work=Air Force Magazine |date=1 September 2004 |access-date=19 July 2022}}</ref> Months earlier in 1928, one of his rocket-powered prototypes, the Opel RAK2, piloted by von Opel himself at the AVUS speedway in Berlin, reached a record speed of {{cvt|238|kph}} in front of 3,000 spectators and world media representatives, including [[Fritz Lang]], director of ''[[Metropolis (1927 film)|Metropolis]]'' and ''[[Woman in the Moon]]'', world boxing champion [[Max Schmeling]], and many other sports and show business celebrities. A world speed record for rail vehicles was reached with RAK3 at a top speed of {{cvt|256|kph}}.<ref>{{cite web|url=https://www.opelpost.com/05/2018/opel-sounds-in-the-era-of-rockets/|title = Opel Sounds in the Era of Rockets|date = 23 May 2018}}</ref> After these successes, von Opel piloted the world's first public rocket-powered flight using [[Opel RAK.1]], a rocket plane designed by [[Julius Hatry]].<ref>{{cite AV media |title=Das RAK-Protokoll |url=https://opel-tv-footage.com/v/The%20RAK%20Protocoll?p=4&c=86&l=1}} a 25-minute documentary on the Opel RAK program</ref> World media reported these events, including Universal Newsreel in the US, causing "Raketen-Rummel" or "Rocket Rumble" immense global public excitement, particularly in Germany, where, among others, [[Wernher von Braun]] was highly influenced.<ref>{{cite web |url=https://www.airspacemag.com/daily-planet/century-elon-musk-there-was-fritz-von-opel-180977634/ |first=Frank H. |last=Winter |title=A Century Before Elon Musk, There Was Fritz von Opel |work=Air & Space Magazine |date=30 April 2021 |access-date=19 July 2022}}</ref> [[File:Opel RAK liquid-fuel rocket plane Friedrich Sander.jpg|thumb|Friedrich Sander, Opel RAK technician August Becker and Opel employee Karl Treber (from right to left) in front of liquid-fuel rocket-plane prototype while test operation at Opel Rennbahn in Rüsselsheim]]Opel RAK became enthralled with liquid propulsion, building and testing them in the late 1920s in Rüsselsheim. According to [[Max Valier]]'s account, Opel RAK rocket designer, [[Friedrich Wilhelm Sander]] launched two liquid-fuel rockets at Opel Rennbahn in [[Rüsselsheim]] on 10 and 12 April 1929. These Opel RAK rockets were the first European, and after Goddard, the world's second, liquid-fuel rockets in history. In his book ''Raketenfahrt'' Valier describes the size of the rockets as of {{cvt|21|cm}} in diameter and with a length of {{cvt|74|cm}}, weighing {{cvt|7|kg}} empty and {{cvt|16|kg}} with fuel. The maximum thrust was 45 to 50 kp, with a total burning time of 132 seconds. These properties indicate a gas pressure pumping. The first missile rose so quickly that Sander lost sight of it. Two days later, a second unit was ready to go, Sander tied a {{convert|4000|m|adj=on|sp=us}}-long rope to the rocket. After {{cvt|2000|m}} of rope had been unwound, the line broke, and this rocket also disappeared in the area, probably near the Opel proving ground and racetrack in Rüsselsheim, the "Rennbahn". Sander and Opel also worked on an innovative liquid-propellant rocket engine for an anticipated flight across the English Channel. By May 1929, the engine produced a thrust of 200 kg (440 lb.) "for longer than fifteen minutes, and in July 1929, the Opel RAK collaborators were able to attain powered phases of more than thirty minutes for thrusts of 300 kg (660-lb.) at Opel's works in Rüsselsheim," again according to Max Valier's account. The [[Great Depression]] led to an end of the Opel-RAK program, but Max Valier continued the efforts. After switching from solid-fuel to liquid-fuel rockets, he died while testing and is considered the first fatality of the dawning space age. Sander's technology was confiscated by the German military in 1935. He was forced to sell his company and was imprisoned for treason. He died in 1938. In March 1929, General Motors (GM), impressed by Opel's modern production facilities, bought 80% of the company. The Opel family gained $33.3 million from the transaction. Subsequently, during 1935, a second factory was built at [[Opelwerk Brandenburg|Brandenburg]] for the production of "[[Opel Blitz|Blitz]]" light trucks. In 1929 Opel licensed the design of the radical [[Neander (motorcycle)|Neander motorcycle]] and produced it as the Opel Motoclub in 1929 and 1930, using Küchen, [[J.A.P.]], and [[Motosacoche]] engines. [[Fritz von Opel]] attached solid-fuel rockets to his Motoclub in a publicity stunt, riding the rocket-boosted motorcycle at the [[Avus]] racetrack.<ref>'Ernst Neumann-Neander und seine Motorrädder', Trapp, 1996, Heel AG, Schindellegi Schweiz. {{ISBN|3-89365-546-8}}</ref> After acquiring the remaining shares in 1931, General Motors had full ownership of Adam Opel AG and organized it as a wholly owned subsidiary. In 1935, Opel became the first German car manufacturer to produce over 100,000 vehicles annually. This was because of the popularity of the [[Opel 1,2 Liter|Opel P4]] model. The sales price was 1,650 marks and the car had a {{convert|23|PS|kW|lk=on|abbr=on}} 1.1 L four-cylinder engine achieving a top speed of {{convert|85|km/h|mph|abbr=on}}. [[File:Bundesarchiv Bild 183-2007-0910-500, Brandenburg, Lkw-Produktion.jpg|thumb|upright|[[Opel Blitz]] assembly at the [[Opelwerk Brandenburg|Brandenburg plant]], 1936]] Opel also produced the first mass-production vehicle in Germany with a [[Unibody|self-supporting ("unibody")]] all-steel body, closely following the 1934 [[Citroën Traction Avant]]. This was one of the most important innovations in automotive history.<ref>{{cite book |last1=Nieuwenhuis |first1=Paul |first2=Peter E. |last2=Wells |page=109 |title=The Automotive Industry and the Environment |edition=First |publisher=Woodhead Publishing |date=8 August 2003 |isbn=978-1855737136 }}</ref> Launched in 1935, the [[Opel Olympia|Olympia]] was light and its aerodynamics enhanced performance and fuel economy. The 1930s was a decade of growth, and by 1937, with 130,267 cars produced. Opel's Rüsselsheim facility was Europe's top in terms of vehicle production, and ranking seventh worldwide.<ref name=OpellautMichaels>{{cite news|url= http://www.zeit.de/1964/08/der-grosse-sprung-nach-vorn/komplettansicht |title="...Mit einer Produktion von 130 267 Fahrzeugen waren sie im Jahre 1937 die größte Automobilfabrik Europas und die siebtgrößte der Welt.|work=Der große Sprung nach vorn: Kann Opel Deutschlands größter Autolieferant werden? |date=21 February 1964 |last=Michaels |first=Heinz |publisher=Die Zeit (online)|access-date=13 September 2015}}</ref> 1938 saw the presentation of the highly successful [[Opel Kapitän|Kapitän]]. With a 2.5 L six-cylinder engine, all-steel body, front independent suspension, hydraulic shock absorbers, hot-water heating (with electric blower), and central speedometer. 25,374 Kapitäns were made before the intensification of [[World War II]] brought automotive manufacturing to a temporary stop in the autumn of 1940, by order of the government. [[File:Bundesarchiv Bild 101I-303-0554-24, Italien, Soldaten auf LKW Opel-Blitz.jpg|thumb|Military Opel Blitz in Italy (1944)]] ===World War II=== Opel automobile production ended in October 1940, after the company's American leadership had rejected an "invitation" to switch to munitions manufacture a few months earlier.<ref name=KL55>{{cite book |ref=KL1 |title=Opel: wheels to the world; a seventy-five year history of automobile manufacture |first=Karl E. |last=Ludvigsen |publisher=Princeton Publishing |date=1975 |isbn=0-915038-01-3 |page=55 }}</ref> In 1942 Opel switched to wartime production, making aircraft parts and tanks. Truck manufacture continued at the [[Opelwerk Brandenburg|Brandenburg plant]], where the 3.6-liter [[Opel Blitz]] truck had been built since 1938. These {{convert|3|ST|t|lk=on|abbr=on}} trucks were also built under license by Daimler-Benz in [[Mannheim]].<ref name=KL55/> ===1945–1970=== [[File:Opel Werk In Ruesselsheim From Train.jpg|thumb|An administration building of Opel Rüsselsheim]] After the end of the war, with the [[Opelwerk Brandenburg|Brandenburg]] plant dismantled and transported to the Soviet Union, and 47% of the buildings in Rüsselsheim destroyed,<ref name=DasAuto194612>{{cite magazine|first=F.A.E. |last=Martin |title=Das Alte stürzt...Es aendert sich die Zeit...und neues Leben blüht aus den Ruinen |magazine=Das Auto |volume=1 |pages=2–3 |date=December 1946}}</ref> former Opel employees began to rebuild the Rüsselsheim plant. The first postwar [[Opel Blitz]] truck was completed on 15 July 1946 in the presence of [[United States Army]] General [[Geoffrey Keyes]] and other local leaders and press reporters.<ref name=DasAuto194612/> Opel's Rüsselsheim plant also made Frigidaire refrigerators in the early post-war years.<ref name=KL60>[[#KL1|Ludvigsen]], p. 60.</ref> [[Opel GT]] This two seater sports car was introduced in 1968 and was produced until 1973. <gallery widths="200" heights="120"> File:Opel-Fridgidaire.jpg|Opel product of the 1940s: [[Frigidaire]] refrigerator File:Opel Kapitän 1952 Fahrzeugausstellung Malter (cropped).jpg|1952 Opel Kapitän File:Opel Rekord 1700 P1 (2008-06-14) ret.jpg|[[Opel (Olympia) Rekord P1|Opel Rekord P1]] (1957–1960) </gallery> {{clear left}} ===1970–2017=== During the 1970s and 1980s, the Vauxhall and Opel ranges were rationalised into one consistent range across Europe. The 1973 version of the [[Opel Kadett]] was later rebadged in hatchback, saloon, and estate form as the [[Vauxhall Chevette]] for the UK market, with German factories producing the Opel versions. The [[Opel Ascona]] of this era was sold on the UK market (and made in British and continental factories) as the [[Vauxhall Cavalier]]. Both of these cars had mild styling changes, as did the flagship [[Opel Rekord]] and [[Vauxhall Carlton]] saloon and estate ranges, which went on sale towards the end of the 1970s. By the 1970s, Opel had emerged as the stronger of GM's two European brands; Vauxhall was the third-best-selling brand in Great Britain after the [[British Motor Corporation]] (later [[British Leyland]]) but made only a modest impact elsewhere. The two companies were direct competitors outside of each other's respective home markets. Still, mirroring US automaker Ford's decision to merge its British and German subsidiaries in the late 1960s, GM followed the same precedent. Opel and Vauxhall had loosely collaborated before, but serious efforts to merge the two companies' operations and product families into one did not start until the 1970s – which had Vauxhall's complete product line replaced by vehicles built on Opel-based platforms – the only exception to the rule being the [[Bedford CF]] panel van. This only solely Vauxhall design was marketed as an Opel on the continent. By the turn of the 1980s, the two brands were, in effect, the same. Opel's first front-wheel drive car – the new version of the Kadett – entered production in 1979, initially built in Germany and Belgium. It was sold in the UK alongside the stronger-selling Vauxhall version – the [[Vauxhall Astra|Astra]] – which entered UK production in 1981. During the 1970s, Opel expressed interest in building an additional production facility in [[Spain]] and eventually settled on a location near [[Zaragoza]], intending to develop a new supermini for the 1980s there. The factory opened in 1982, and its first product was the [[Opel Corsa]] (imported to the UK as the [[Vauxhall Nova]] from 1983). The Ascona switched to front-wheel drive for an all-new General Motors J-Car global model format in 1981, with the Cavalier nameplate continuing for the UK market. The Kadett was revamped again in 1984, and became the company's first winner of the [[European Car of the Year]] accolade. The Rekord's successor, the [[Opel Omega]] (still Vauxhall Carlton in the UK), achieved the same success two years later. The long-running Ascona nameplate was discontinued in 1988, with its replacement being sold as the [[Opel Vectra|Vectra]], although the UK market version was still sold as the Vauxhall Cavalier. The Opel Manta coupe was also discontinued in 1988, with its Vectra-based successor, the [[Opel Calibra|Calibra]], being launched the following year. Soon afterward, Opel launched a high-performance version of the Omega – the Lotus Omega (Lotus Carlton in the UK) – which featured Lotus-tuned suspension and had a top speed of 175 mph. [[File:Opel Rekord E2 front 20081127.jpg|thumb|Opel Rekord E, mk.2 (1982–1986)]] Opel's first turbocharged car was the [[Opel Rekord#E|Opel Rekord 2.3 TD]], first shown at [[Geneva Motor Show|Geneva]] in March 1984.<ref name="QR4-84">{{cite magazine |magazine=Quattroruote |title=Autonotizie: Anche la Opel si dà al turbo |trans-title=Car News: Opel too with turbo |language=it |date=April 1984 |volume=29 |issue=342 |location=Milan, Italy |editor-first=Gianni |editor-last=Mazzocchi |page=108}}</ref> In the 1990s, Opel was considered GM's cash cow, with profit margins similar to Toyota's. Opel's profit helped to offset GM's losses in North America and to fund GM's expansion into Asia.<ref>{{cite news|last1=Phelan |first1=Mark |title=Soul searching at GM after selling Opel |url= https://www.usatoday.com/story/money/cars/2017/03/09/soul-searching-gm-after-selling-opel/98933702/ |access-date=11 March 2017 |work=Detroit Free Press |date=9 March 2017}}</ref> 1999 was the last time when Opel was profitable for an entire year after almost 20 years.<ref>{{cite web|url= https://qz.com/914573/after-losing-20-billion-over-17-years-general-motors-gm-may-quit-europe-by-selling-opel-and-vauxhall-to-peugeot/ |title=After losing $20 billion over 17 dismal years, General Motors may finally quit Europe |first=Jason |last=Karaian |date=18 February 2017 |access-date=19 March 2017}}</ref> The first major Opel launch of the 1990s was the 1991 Astra, which spelled the end for the Kadett nameplate that had debuted more than 50 years earlier. The company also turned to [[Japan]]ese [[Isuzu]] for its first SUV, the [[Isuzu MU|Frontera]], which was also launched in 1991 but produced in Europe despite its Japanese origins. The larger [[Opel Monterey|Monterey]] joined the company's SUV line-up in 1994, but had been dropped from the UK and continental markets by 2000 due to disappointing sales. At the end of 1992, the company unveiled a completely new Corsa, which, like the original model, was produced at the Zaragoza plant. This car carried the Corsa nameplate on the UK market as a Vauxhall. A second generation Omega was launched in early 1994. It remained in production for a decade, but when production finished, there was no direct successor due to declining sales of executive saloon models from mainstream brands. A Corsa-based coupe, the [[Opel Tigra|Tigra]], was also launched around this time and lasted in production for six years. The second generation Opel Vectra was launched in 1995, with the Vectra nameplate now extending to the Vauxhall version in the UK. The first Opel MPV, the [[Opel Sintra|Sintra]], was launched in Europe in 1996, imported from the US where it was sold as a [[Pontiac (automobile)|Pontiac]], but discontinued after three years due to disappointing sales. The Vauxhall-badged UK market version was also slated in motoring surveys for its dismal build quality and reliability. 1997 saw the demise of the Calibra coupe after an eight-year production, with no immediate replacement. The Opel Astra hatchbacks, saloons, and estate were wholly revamped for 1998 and, within two years, had also spawned coupe and cabriolet versions, as well as a compact MPV, the [[Opel Zafira|Zafira]]. In 1999, Opel unveiled its first sports car, the [[Opel Speedster|Speedster]] (Vauxhall VX220 in the UK). However, it was not a success and was discontinued in 2005. The company moved into the city car market in early 2000 with the [[Opel Agila|Agila]] launch. The third generation Opel Corsa was launched in 2000, followed by a new version of the Vectra in 2002 and the Astra in 2004. Three generations of Vectra gave way to the [[Opel Insignia|Insignia]] in 2008, with the new model becoming the company's first European Car of the Year award winner for 22 years. Following the 2008 global financial crisis and the [[General Motors Chapter 11 reorganization|Chapter 11 reorganization of GM]], on 10 September 2009, GM agreed to sell a 55% stake in Opel to a consortium including [[Magna International|Magna]] group and [[Sberbank]] – with the approval of the German government. The deal was later called off.<ref>{{cite web|url=http://www.carscoops.com/2009/11/gm-decides-to-keep-opel-after-all.html|title=GM Decides to Keep Opel After All, Cancels Sale with Magna|work=Carscoops |date=4 November 2009|access-date=19 March 2017}}</ref> With ongoing restructuring plans, Opel announced the closure of its [[Antwerp]] plant in [[Belgium]] by the end of 2010.<ref>{{cite web|url=http://www.autoblog.com/2010/01/24/gm-announces-plans-to-close-opel-antwerp-facility/|title=GM announces plans to close Opel Antwerp facility|first=Michael|last=Harley|date=24 January 2010 |access-date=19 March 2017}}</ref> In 2010, Opel announced that it would invest around [[Euro|€]]11 billion in the next five years.<ref>{{cite web|url=https://www.bloomberg.com/apps/news?pid=newsarchive&sid=aweFLsLewNdE|title=GM's Opel Outlines 11 Billion-Euro Investment as It Seeks Aid|publisher=Bloomberg L.P.|date=9 February 2010|access-date=14 July 2011}}</ref> €1 billion of that was designated solely for the development of innovative and fuel-saving engines and transmissions.<ref>{{cite web |url=https://www.derwesten.de/nachrichten/Opel-Betriebsrat-begruesst-Elf-Milliarden-Investition-von-GM-id2523074.html |archive-url=https://archive.today/20100212052253/http://www.derwesten.de/nachrichten/Opel-Betriebsrat-begruesst-Elf-Milliarden-Investition-von-GM-id2523074.html |url-status=dead |archive-date=12 February 2010 |title=Autobauer: Opel-Betriebsrat begrüßt Elf-Milliarden-Investition von GM – Nachrichten – DerWesten |language=de |publisher=Derwesten.de |date=9 February 2010 |access-date=30 June 2011 }}</ref> On 29 February 2012, Opel announced the creation of a major alliance with [[PSA Peugeot Citroen]], resulting in GM taking a 7% share of PSA, becoming PSA's second-largest shareholder after the Peugeot family. The alliance was intended to enable $2 billion per year of cost savings through platform sharing, common purchasing, and other economies of scale.<ref>{{cite news |url=https://www.bbc.co.uk/news/business-17213021 |title=GM and Peugeot announce alliance |access-date=29 February 2012 |work=BBC News |date=29 February 2012}}</ref> In December 2013, GM sold its 7% interest in PSA for £250 million, after plans of cost savings were not as successful.<ref name=BBC14022017/> Opel was said to be among Europe's most aggressive discounters in the market.<ref>{{cite news|last1=Flak|first1=Agnieszka|last2=Cremer|first2=Andreas|title=Autos bosses focus on technology rather than PSA-Opel |url= https://www.reuters.com/article/us-autoshow-geneva-idUSKBN16E0ZZ|access-date=10 March 2017 |work=Reuters |date=7 March 2016}}</ref> GM reported a 2016 loss of US$257 million from its European operations.<ref name=BBC14022017>{{cite news |url=https://www.bbc.com/news/business-38969791 |title=Peugeot in talks to buy GM's Vauxhall and Opel business |access-date=14 February 2017 |work=BBC News |date=14 February 2017}}</ref> It is reported that GM has lost about US$20 billion in Europe since 1999.<ref>{{cite news|last1=Kirchfeld|first1=Aaron|last2=Philip|first2=Siddharth|last3=Welch|first3=David|last4=Hammond|first4=Ed|last5=David |first5=Ruth |title=Peugeot Owner PSA Explores Acquisition of GM's Opel Division |url= https://www.bloomberg.com/news/articles/2017-02-14/peugeot-owner-said-to-explore-acquisition-of-gm-s-opel-business |access-date=10 March 2017 |agency=Bloomberg |date=14 February 2017}}</ref> Opel's plant in [[Bochum]] closed in December 2014, after 52 years of activity, due to overcapacity.<ref>{{cite web|url= http://www.dw.com/en/end-of-the-line-for-opel-car-manufacturer-in-bochum/a-18111230 |title=End of the line for Opel car manufacturer in Bochum |date=12 May 2014 |work=Deutsche Welle |access-date=10 May 2024}}</ref> Opel withdrew from China, where it had a network of 22 dealers, in early 2015<ref>{{cite news|title=Carmaker Opel pulls out of China, to build Buicks for parent GM |url= http://dw.com/p/1BXoQ |access-date=25 March 2017 |work=Deutsche Welle |date=28 March 2014}}</ref> after General Motors decided to withdraw its Chevrolet brand from Europe starting in 2016.<ref>{{cite news|title=General Motors to withdraw Chevrolet brand from Europe |url= https://www.bbc.com/news/business-25237227 |access-date=25 March 2017 |work=BBC |date=5 December 2013}} </ref> === 2017–present === In March 2017, the [[PSA Group]] agreed to buy Opel, its British sister brand [[Vauxhall Motors|Vauxhall]] and their European auto lending business from [[General Motors]] for {{US$}}2.2 billion.<ref name="BloombergDWelch">{{cite news|last1=Frost |first1=Lawrence |last2=Taylor |first2=Edward |title=PSA targets Opel turnaround as GM exits Europe |url= https://www.reuters.com/article/us-opel-m-a-psa-idUSKBN16D0J1 |access-date=10 March 2017 |work=Reuters |date=6 March 2017}}</ref><ref>{{cite news|last1=Welch |first1=David |title=GM to Make Pension Payments for Years Just to Get Out of Europe |url= https://www.bloomberg.com/news/articles/2017-03-06/gm-hangs-onto-years-of-pension-payouts-to-end-europe-cash-burn |access-date=25 March 2017 |agency=Bloomberg |date=6 March 2017}}</ref> In return, General Motors will pay PSA US$3.2 billion for future European pension obligations and keep managing US$9.8 billion worth of plans for existing retirees. Furthermore, GM is responsible for paying about US$400 million annually for 15 years to fund the existing pension plans in Great Britain and Germany.<ref name="BloombergDWelch" /> In June 2017, Michael Lohscheller, Opel's chief financial officer, replaced Karl-Thomas Neumann as CEO.<ref>{{cite web| url = http://media.opel.com/media/intl/en/opel/home.detail.html/content/Pages/news/intl/en/2017/opel/06-12-m-lohscheller-new-opel-chef.html?sf87657525=1| title = Michael Lohscheller Appointed New CEO of Opel, media.opel.com, 12 June 2017}}</ref> The acquisition of Opel and Vauxhall was completed in August 2017.<ref name="PSA-Subsidiary">{{cite web | url=https://www.autocar.co.uk/car-news/industry/vauxhall-PSA-Group-takeover | title=PSA Group purchase of Opel and Vauxhall completed with new financial company | website=www.autocar.co.uk | date=August 1, 2017 | accessdate=August 29, 2019 }}</ref> In the 2018 financial year, Opel achieved an operating income of €859 million. It was the first positive income since 1999.<ref>{{cite web|url=https://www.groupe-psa.com/en/document/rapport-annuel-2018|title=2018 Annual Results – PSA Groupe|archive-url=https://web.archive.org/web/20190810124245/https://www.groupe-psa.com/content/uploads/2019/02/Annual-results-Groupe-PSA-2018.pdf|archive-date=August 10, 2019}}</ref><ref>{{Cite news|url=http://www.spiegel.de/wirtschaft/unternehmen/opel-verbucht-ersten-operativen-gewinn-seit-20-jahren-a-1255123.html|title=Nach Dauerkrise: Opel verbucht ersten Gewinn seit fast 20 Jahren|date=2019-02-26|work=Spiegel Online|access-date=2019-02-26}}</ref> On 16 January 2021, Opel became part of [[Stellantis]] following the merger of its parent company [[PSA Group]] with the Italian-American group [[Fiat Chrysler Automobiles]]. In September 2021, Stellantis appointed Uwe Hochgeschurtz to Opel's management<ref>{{cite press release|url= https://www.stellantis.com/en/news/press-releases/2021/july/uwe-hochgeschurtz-will-join-opel-as-new-brand-ceo-on-september-1st |title= Uwe Hochgeschurtz will join Opel as new brand CEO on September 1st |website=stellantis.com |access-date=2021-07-13}}</ref> to replace Michael Lohscheller who left to [[Vinfast]].<ref>{{cite web|url= https://www.whichcar.com.au/news/vinfast-ceo-michael-lohscheller-opel |title= Opel boss Michael Lohscheller to join VinFast as new CEO |work=Wheels Magazine Australia |date= 29 July 2021 |access-date=2021-07-29}}</ref>
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